This tutorial shows how to convert a QIF file from your bank or credit card statement to OFX format and import into Quickbooks Online. We will use QIF2OFX utility.

Step by step instructions for Windows

See below steps for the Windows version, followed by the Mac version.

Make sure you are using the latest version of QIF2OFX. Download it from the QIF2OFX download page. Start QIF2OFX and select a QIF file.

Review transactions before converting, check that dates are correct, have the correct year, deposits and withdrawals are in correct places.

Set the OFX Target to match your accounting software or use 'Regular OFX' as the default setting.

Set the Account ID (number) and the Account Type. For multiple accounts, use a different Account ID for each account.

Currency should be USD even for non-USD accounts for Quickbooks US edition. For the Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set. Also check End balance, Bank ID and Branch ID.

Set 'Open after conversion' to open application handling converted files to start import right after the conversion.

Click the 'Convert' button to create an OFX file.

Confirm the file name and location.

Import created OFX file into Quickbooks Online

Now the OFX file is created, let's switch to Quickbooks Online and import created OFX file. Look for the 'Banking' and click on it.

And then select the account you want to import your data into.

Click the 'File Upload' button. In your accounting software, look for 'Import a statement', 'Upload a bank file' or similar links to upload created OFX file.

Then click 'Browse' to locate your OFX file. And click 'Next'.

Then select an account in Quickbooks to import and click 'Next'.

Once the transactions are imported, you can review, categorize them under the account and add to the register.

Select Payee (Vendor Records) and Category (expense/income accounts).

Step by step instructions for macOS

Make sure you are using the latest version of QIF2OFX. Download it from the QIF2OFX download page. Start QIF2OFX and select a QIF file.

Review transactions before converting, check that dates are correct, have the correct year, deposits and withdrawals are in correct places.

Set the Account ID (number) and the Account Type. For multiple accounts, use a different Account ID for each account.

Currency should be USD even for non-USD accounts for Quickbooks US edition. For the Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set. Also check End balance, Bank ID and Branch ID.

Set the OFX Target to match your accounting software or use 'Regular OFX' as the default setting.

Set 'Open after save' to open application handling converted files to start import right after the conversion.

Click the 'Convert' button to create an OFX file.

Confirm the file name and location.

Import created OFX file into Quickbooks Online

Now the OFX file is created, let's switch to Quickbooks Online and import created OFX file. Look for the 'Banking' and click on it.

And then select the account you want to import your data into.

Click the 'File Upload' button. In your accounting software, look for 'Import a statement', 'Upload a bank file' or similar links to upload created OFX file.

Then click the 'Browse' button and select the created OFX file. And click 'Next'.

Then select an account in Quickbooks to import and click 'Next'.

Once the transactions are imported, you can review, categorize them under the account and add to the register.